Berlin Based Unicorn Workspaces Enters Temporary Provisional Self-Administration to Stabilize Operations

Berlin-based coworking operator Unicorn Workspaces has been placed under provisional self-administration following an order by the Charlottenburg District Court. The measure temporarily protects the company from its creditors while allowing management to continue running operations during restructuring.

Founded in 2015, Unicorn Workspaces has grown into a multi-city operator with 16 locations covering nearly 20,000 m2 across Berlin, Hamburg, Cologne, Munich, Potsdam, and Lisbon (Portugal). The company currently employs around 45 people.

Rising rental costs from landlords have been cited as one of the factors contributing to the financial strain. Recently, Ahoy! Berlin had decided to close down its Berlin location due to new rental terms.

Unicorn’s services remain fully operational, with no disruption to its tenants during the proceedings. This form of self-administration is designed to give companies time to reorganize and secure long-term viability without immediate liquidation.

Similar cases have emerged in Europe’s coworking market. In Sweden, for example, coworking operator Convendum underwent a comparable restructuring process starting in late 2024 and has since returned to solvency, maintaining its full coworking services throughout.

Unicorn’s restructuring will aim to secure its position in Germany’s competitive flexible workspace market while preserving its network of city-center offices and service offerings.

Unicorn Workspaces is a strong supporter of Coworking Europe.

Pic source: Unicorn website